Tech pulls down Asia stocks, dollar gains on inflation data
Asian stocks slumped on Friday, tracking tech-led declines on Wall Street overnight after hotter-than-forecast U.S. inflation knocked back bets for how soon and often the Federal Reserve will cut interest rates. U.S. benchmark bond yields held near the 4.3% level they reached on Thursday for the first time this month, following their biggest…
Oil prices rise on signs of big US inventory draw, OPEC demand outlook
Oil prices rose in Asian trade on Wednesday, buoyed by industry data showing an unexpected draw in U.S. inventories, while the OPEC also stuck to its forecast of strong demand growth in the coming years. Brent oil futures expiring in May rose 0.5% to $82.28 a barrel, while West Texas Intermediate crude futures…
Japan’s economy recovering but showing signs of weakness, says BOJ chief Ueda
Bank of Japan Governor Kazuo Ueda said on Tuesday the economy is recovering moderately, but said there were some weakness seen in recent data. “We are focusing on whether a positive wage-inflation cycle is kicking off, in judging whether sustainable, stable achievement of our price target is coming into sight,” Ueda told parliament.…
Asian stocks skittish before US inflation cues; China rebounds
Most Asian stocks moved in a flat-to-low range on Thursday in anticipation of more cues on U.S. interest rates from key inflation data, while Chinese markets rebounded from heavy losses in the prior session. Regional markets tracked a middling overnight session on Wall Street, while U.S. stock futures fell in Asian trade as…
US stock futures inch lower ahead of more cues on rates, inflation
U.S. stocks index futures fell slightly in evening deals on Tuesday following a middling session on Wall Street, as focus remained squarely on a barrage of economic readings that are set to offer more cues on monetary policy. A string of Federal Reserve officials are also set to speak in the coming days,…
Dollar firms ahead of busy data week with US inflation in focus
The dollar was on the front foot on Monday ahead of a packed week filled with key economic releases that will provide further clues on the global interest rate outlook, with a U.S. inflation reading taking centre stage. The core personal consumption expenditures (PCE) price index – the Federal Reserve’s preferred measure of…
China’s new home prices extend declines in January
China’s January new home prices fell for the seventh straight month, official data showed on Friday, even as policymakers stepped up support to restore confidence in the debt-ridden sector. New home prices fell 0.3% month-on-month after dipping 0.4% in December, according to Reuters calculations based on National Bureau of Statistics (NBS) data. Prices…
Oil edges higher, holding to gains made on signs of tighter supply
Oil prices rose slightly on Thursday, holding to gains from the previous session that came amid signs of tighter supply. U.S. West Texas Intermediate crude futures (WTI) rose 17 cents to $78.08 a barrel for the prompt month. The May contract gained 14 cents to $77.45 a barrel by 0150 GMT. Brent crude…
US futures dip before Fed minutes; Nvidia falls ahead of Q4 earnings
U.S. stock index futures fell slightly on late-Tuesday as markets awaited more cues on monetary policy from the minutes of the Federal Reserve’s late-January meeting. Tech stocks remained on the backfoot, with chipmaking heavyweight NVIDIA Corporation (NASDAQ:NVDA) extending losses into aftermarket trade in anticipation of its fourth-quarter earnings, which are due after the…
Asian stocks find little cheer from China’s interest rate cut
Most Asian stocks retreated on Tuesday, extending recent losses as persistent concerns over slowing economic growth and high U.S. interest rates largely offset a bigger-than-expected cut in China’s benchmark lending rate. Chinese markets fell slightly after a largely underwhelming return from the week-long Lunar New Year holiday, while a bigger-than-expected cut in the…
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